SpaceX has confidentially filed for an initial public offering, with the debut planned for June 2026, potentially coinciding with Elon Musk's 55th birthday on June 28. Elon Musk will reveal more details of the June IPO on April 21, according to multiple reports. The company has not responded with a comment.
SpaceX has merged with or acquired Elon Musk's artificial intelligence company xAI, which owns social media platform X. According to multiple reports, the combined entity is officially called x.AI Holdings and includes the AI agent Grok. Sources indicate that it is Elon Musk's AI venture xAI that weighs on SpaceX ahead of the listing, suggesting uncertainty about whether the merger is seen as a positive or negative factor for valuation and investor appeal.
30% of SpaceX shares could be reserved for private investors.
A banking consortium including Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Bank of America are the lead banks managing the deal, according to multiple reports. The structure of the expected IPO deviates from Wall Street's standard strategy, emphasizing Elon Musk's determination to shape who owns SpaceX and how its shares trade, according to two sources. The setup includes a more active role in choosing banks, with Bank of America reportedly selected to focus on retail investors in the US, according to two sources.
SpaceX is expected to offer just a few percent of its total shares in the IPO, according to multiple reports. Going public could boost SpaceX's valuation to $1.5 trillion, nearly double its December valuation, according to research firm Pitchbook. The acquisition of xAI boosted SpaceX's valuation to $1.25 trillion, according to two research sources, though the exact pre-IPO valuation remains unclear with some sources not specifying.
SpaceX was worth around $10 billion ten years ago.
The IPO could be the largest stock market debut ever, according to the Associated Press. Elon Musk is a pioneer of dual trillion-dollar enterprises, according to two research sources. SpaceX could become as large as Apple ($3.8 trillion) or Nvidia ($4.4 trillion), according to multiple reports.
The confidential filing allows the company to gather private feedback from regulators and temporarily insulates it from public scrutiny, according to two research sources. Once the registration filing is made public, investors will be able to get a snapshot of the company's operations and finances, according to two research sources. This process helps SpaceX navigate regulatory requirements while maintaining control over information disclosure.
Starlink has grown to more than 2.5 million users globally and is active in dozens of countries.
Bankers, brokers, and lawyers must incorporate Grok into their systems to be part of the IPO, according to multiple reports. This requirement underscores the integration of AI technology into the financial infrastructure supporting the offering. The exact implications for how Grok will be used in these systems remain unspecified.
The purpose is to use loyal investors to stabilize the stock after the listing, according to two sources. Small investors will get a larger share of the cake ahead of the SpaceX listing, according to multiple reports. Elon Musk stated that 30% of SpaceX shares could be reserved for private investors, highlighting a focus on retail participation.
There has been a lot of positive news relating to SpaceX, likely driving demand.
Shares of space companies soared on Wednesday following a report that SpaceX could this week file to list shares on the stock market, according to multiple reports. Stock prices of Firefly Aerospace and Rocket Lab jumped by more than 10%, and other space-related firms also saw shares jump, according to multiple reports. Intuitive Machines rose by nearly 15%, and Planet Labs jumped by more than 10%, according to multiple reports.
Retail investors are increasingly backing the space economy, with the sector moving to a more established part of long-term portfolios, according to multiple reports. Scottish Mortgage Investment Trust holds a significant stake in SpaceX and was among the most-bought investment trusts in Q1 2026, according to multiple reports. Seraphin Space Investment Trust, which focuses on space tech firms, was among the most-bought trusts during the quarter, according to multiple reports. Seraphim increased the value of its holding in US-based Xona Space Systems following a funding round, according to multiple reports.
Funding could help SpaceX further scale its space operations, build more data centers, and expand Starlink technology to new satellite constellations, according to Wedbush Securities analyst Dan Ives. Going public could position SpaceX to get more defense contract opportunities with the Trump administration, particularly for the 'Golden Dome' project, according to Wedbush Securities analyst Dan Ives. Elon Musk stated that Starlink has grown to more than 2.5 million users globally and is active in dozens of countries, indicating existing operational scale.
Plans are not final and can change, according to two sources. The company is expected to raise between 40 and an unspecified amount, according to multiple reports, leaving the exact fundraising target unclear with reports ranging from over $50 billion to over $75 billion. The percentage of shares to be offered remains uncertain beyond 'a few percent', and how the merger with xAI and inclusion of Grok will affect business model and financials is not detailed.
SpaceX has not responded with a comment. The lack of official communication leaves many aspects of the IPO, including specific market challenges and investor sentiment issues, unaddressed. According to Daily Mail - Home, Charlie Bilello described SpaceX as worth around $10 billion ten years ago, providing historical context. According to City AM, Hal Cook described there having been a lot of positive news relating to SpaceX, likely driving demand.